Net foreign direct investment (FDI) into India nearly quadrupled to 6.6 billion US dollars in April this year, compared to 1.6 billion dollars in April last year. The Reserve Bank of India, in its June Bulletin, said the increase was driven by a sharp rise in equity inflows and lower repatriation by foreign investors.

Equity inflows, the largest component of FDI, rose to 12.42 billion dollars in April, up from 6.82 billion dollars a year earlier. On a gross basis, total FDI inflows increased by 65 per cent year-on-year to 15.3 billion dollars.

Meanwhile, outward FDI by Indian companies also increased to 4.82 billion dollars in April from 3.39 billion dollars in the corresponding period last year. Repatriation and disinvestment by foreign investors declined to 3.9 billion dollars from 4.23 billion dollars a year ago.

However, net portfolio investment recorded an outflow of 7.26 billion dollars in April, compared with an outflow of 2.13 billion dollars in April last year.